Elion Acquires Four Logistics Assets for $216M
Within the past two months, Elion Partners acquired four last-mile logistics assets totaling 864,000 square feet for $216 million. The firm’s investment strategy is focused on last-mile logistics real estate, targeting core urban logistics hubs near large population centers in infill coastal markets.
These properties are located in the Seattle, San Francisco, Southern California and New York markets. The recent acquisitions were individually sourced pre-market from various sellers and are a part of a series of acquisitions the firm has planned for its portfolio aggregation strategy across key coastal logistics markets.
“By focusing on the attributes prudent to logistics real estate such as clear height, excess parking and drive-around truck access, we have been able to identify value-add opportunities that meet the needs of today’s logistics providers,” says James Lambert, senior managing director of industrial investments at Elion. “These acquisitions provide additional exposure to high-quality assets in core locations, and we look forward to continuing the expansion of our last-mile portfolio.”
The transactions consisted of 4225 Hacienda Dr. in Pleasanton, CA (390,000 square feet); 182-20 Liberty Ave. in Jamaica, NY (180,000 square feet); 555-589 Monster Road SW in Renton, WA (224,000 square feet) and 6212 Corte del Abeto in Carlsbad, CA (70,000 square feet).
Pictured: 6212 Corte del Abeto.
- ◦Acquisition